Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11, and P-12. In August, the costs to process P-1 are $152,000 for materials and $290,000 for conversion costs. P-11 has a sales value of $643,000 and P-12 has a sales value of $172,000. Using the net realizable value method, assign costs to P- 11 and P-12 for August.

Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11, and P-12. In August, the costs to process P-1 are $152,000 for materials and $290,000 for conversion costs. P-11 has a sales value of $643,000 and P-12 has a sales value of $172,000. Using the net realizable value method, assign costs to P- 11 and P-12 for August.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter5: Support Department And Joint Cost Allocation

Section: Chapter Questions

Problem 4CMA: Tucariz Company processes Duo into two joint products, Big and Mini. Duo is purchased in...

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